The Travelers Companies, Inc.
Director, Actuarial & Analytics - Bond & Specialty Insurance Reserving
Solid reputation, passionate people and endless opportunities. That’s Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers – and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.
Job Description SummaryTravelers Bond & Specialty Insurance (B&SI) is looking for a skilled manager and actuarial practitioner to join our reserving team as a Director. (Actuarial credentials are preferred, but not required for candidates with relevant experience.) In this position you will be directly responsible for reserving, loss analytics, and related support for the Public Company Liability business unit, and manage a reserving analyst responsible for the Financial Institutions business unit. You will also serve as the reserving line lead for Directors and Officers and Cyber, two of our rapidly evolving Management Liability lines of business. In this role, you will develop both your analytical and leadership skills to provide well reasoned reserving recommendations, influence important business decisions, and inspire innovation. You will be working closely with the Pricing, Product, Underwriting, and Claims teams to learn the business and communicate your findings and recommendations. Effective communication will be required as you build partnerships with senior management and other business partners throughout B&SI and the enterprise.
In addition to traditional reserving analysis, the B&SI reserving team is positioning itself to increasingly rely on innovative loss analytic methods such as advanced claim level reserving models. This will be a unique opportunity to get involved while these new approaches are still in development, directly influence how this transition happens, and help define the role of the reserving actuary of the future.
Primary Job Duties & Responsibilities
Primary duties: Perform quarterly analysis of loss reserves for all lines in the Public Company Liability business unit, and provide oversight for reserving analysis for the Financial Institutions business unit. Work with the Claims department to ensure best estimates are appropriately reserved for key claims. Work with our modeling/analytics team to develop, evaluate, and utilize advanced loss analytic tools such as claim level reserve models. Provide support to the Actuarial Pricing and Product Management teams for their pricing reviews. Research, monitor, and develop recommendations to address emerging issues impacting our rapidly evolving products. Present results, recommendations, and implications to Product Management, Business Unit leads, and other senior management.
Other Responsibilities: Utilize programming and database knowledge to develop/maintain tools. Actively identify and help implement process improvements.
- Bachelor's Degree required.
- Minimum of 4 years of experience performing quantitative analysis required.
Education, Work Experience, & Knowledge
- College degree in STEM related field.
- Associate Actuarial Credential preferred.
- 7+ years of quantitative analysis experience.
- Strong understanding of insurance products and industry.
- Demonstrated ability in actuarial and quantitative analysis and statistical concepts.
- Management experience.
- Excellent communication, collaboration and relationship-building skills.
- Ability to present and translate complex information in relevant business terms.
- Strong PC skills (MS Office) and programming skills (eg. SQL, SAS).
Job Specific Technical Skills & Competencies
- Begins to challenge conventional thinking.
- Takes ownership of projects related to strategic initiatives and makes recommendations to influence business outcomes.
- Proficient in Leading Self, exhibiting decisiveness and self-awareness while also effectively managing ambiguity.
- Initial development of Leading Others, including modeling the way for others and effectively leading team projects.
- Initial development of Leading the Business, including actively engaging in driving business results, broad thinking and promoting an Enterprise culture.
- Has an in-depth understanding and knowledge of certain key business drivers and disciplines such as: underwriting, products, reinsurance, distribution, sales, operations, risk control, claim, and financials.
- Able to effectively utilize this business knowledge in developing and implementing analytic solutions.
- Has a general perspective of the industry and developing trends, including: technology, analytic methodology, products, and performance of competitors.
- Is familiar with other key business drivers and disciplines.
- Proactively build and own professional business relationships across the Enterprise.
- Generate and solicit ideas, and build consensus
- Aware of potential conflict and address proactively.
- Acknowledge accomplishments of others within your primary working group.
- Set and manage expectations with business partners for large projects.
- Understand diverse perspectives to effectively accomplish business goals.
- Able to introduce innovative techniques to existing problems.
- Independently perform and implement complex analytics.
- Leads and actively engages in technical/peer reviews.
- May offer technical consultative feedback.
- Can assess various technical solutions to optimize analytical outcomes.
Equal Employment Opportunity StatementTravelers is an equal opportunity employer.